AMAT announced earnings today. They significantly
exceeded expectations of $0.50 with earnings of $0.52
($0.60 including a one-time gain). However, they also
said that new orders did not meet expectations.
Here are the financials:
Three Months Ended
Jan. 25, Jan. 26,
(In thousands, except per share amounts) 1998 1997
Net sales $1,307,685 835,776
Cost of products sold 678,244 464,120
Gross margin 629,441 371,656
Operating expenses
Research, development and engineering 182,329 116,492
Marketing and selling 86,389 66,271
General and administrative 65,768 59,608
Acquired in-process research
and development 32,227 59,500
Income from operations 262,728 69,785
Income from litigation settlement 80,000 --
Interest expense 11,864 5,800
Interest income 21,279 13,557
Income from consolidated companies
before taxes 352,143 77,542
Provision for income taxes 123,250 47,965
Income from consolidated companies 228,893 29,577
Equity in net income/(loss) of joint venture -- --
Net income 228,893 29,577
Earnings per share: (2)
Basic 0.62 0.08
Diluted 0.60 0.08
Weighted average number of shares: (2)
Basic 366,894 361,408
Diluted 379,101 370,864
(2) Amounts for the quarter ended January 26, 1997 have been
retroactively restated to reflect a two-for-one stock spilt in
the form of a 100 percent stock dividend, effective October 13,
1997.
Copyright 1998, Reuters News Service |
